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Company Registration No. 8238355 (England and Wales)
A-B 247 Ltd Unaudited accounts for the year ended 31 December 2023
A-B 247 Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
791,942 
349,511 
Investments
51 
- 
791,993 
349,511 
Current assets
Debtors
460,269 
682,151 
Cash at bank and in hand
18,272 
41,889 
478,541 
724,040 
Creditors: amounts falling due within one year
(557,862)
(566,648)
Net current (liabilities)/assets
(79,321)
157,392 
Total assets less current liabilities
712,672 
506,903 
Creditors: amounts falling due after more than one year
(520,823)
(183,953)
Provisions for liabilities
Deferred tax
(170,649)
(40,047)
Net assets
21,200 
282,903 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
21,100 
282,803 
Shareholders' funds
21,200 
282,903 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by
Christopher Godly Director Company Registration No. 8238355
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A-B 247 Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
A-B 247 Ltd is a private company, limited by shares, registered in England and Wales, registration number 8238355. The registered office is Unit 14, Merton Industrial Park, Lee Road, Wimbledon, London, SW19 3HX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% on the reducing balance basis
Computer equipment
25% on the reducing balance basis
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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A-B 247 Ltd Notes to the Accounts for the year ended 31 December 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
856,190 
23,561 
879,751 
Additions
636,411 
7,733 
644,144 
Disposals
(8,582)
- 
(8,582)
At 31 December 2023
1,484,019 
31,294 
1,515,313 
Depreciation
At 1 January 2023
515,187 
15,053 
530,240 
Charge for the year
194,940 
4,060 
199,000 
On disposals
(5,869)
- 
(5,869)
At 31 December 2023
704,258 
19,113 
723,371 
Net book value
At 31 December 2023
779,761 
12,181 
791,942 
At 31 December 2022
341,003 
8,508 
349,511 
5
Investments
Other investments 
£ 
Valuation at 1 January 2023
- 
Additions
51 
Valuation at 31 December 2023
51 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
399,173 
651,617 
Accrued income and prepayments
15,549 
27,963 
Other debtors
45,547 
2,571 
460,269 
682,151 
- 4 -
A-B 247 Ltd Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
106,725 
162,229 
Obligations under finance leases and hire purchase contracts
198,380 
147,172 
Trade creditors
21,573 
25,337 
Taxes and social security
83,724 
184,803 
Other creditors
143,460 
40,436 
Loans from directors
- 
2,671 
Accruals
4,000 
4,000 
557,862 
566,648 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
76,305 
106,146 
Obligations under finance leases and hire purchase contracts
444,518 
77,807 
520,823 
183,953 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
42,358 
135,135 
11
Average number of employees
During the year the average number of employees was 22 (2022: 20).
- 5 -